Federal Reserve Bank of Richmond Reviews | Glassdoor

Federal Reserve Bank of Richmond Reviews

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Found 88 reviews

3.5
StarStarStarStarStar
Rating TrendsRating Trends
67%
Recommend to a Friend
65%
Approve of CEO
Tom Barkin
4 Ratings
Pros
  • "Casual dress encouraged and work/ life balance(in 22 reviews)

  • "Potential for long term employment with great benefits including pension plan(in 14 reviews)

Cons
  • "Not innovative due to a lot of "process" requirements and red tape(in 6 reviews)

  • "Extremely slow to change and adapt, held back by cultural norms and regulations(in 3 reviews)

More Pros and Cons
  1. Helpful (4)

    "Research Associate"

    StarStarStarStarStar
      Former Employee - Anonymous Employee 

      I worked at Federal Reserve Bank of Richmond full-time

      Pros

      Balanced with work and life

      Cons

      Might be boring at some point

    • "Important Mission"

      StarStarStarStarStar
      • Overall
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Former Employee - Anonymous Employee 
      Recommends
      Approves of CEO

      I worked at Federal Reserve Bank of Richmond full-time

      Pros

      You work with a group of professionals dedicated to public service and the important mission of the Federal Reserve

      Cons

      The federated structure of the System can be daunting for those used to a command and control structure

    • "Research Assistant"

      StarStarStarStarStar
      • Overall
      • Culture & Values
      • Compensation and Benefits
      Former Employee - Anonymous Employee 
      Recommends

      I worked at Federal Reserve Bank of Richmond full-time

      Pros

      Very flexible hours, decent pay and exciting work

      Cons

      Sometimes a little low on work but you can use this to read other papers and improve programming skills. No room for career advancement.

    • "Tired of being micro-managed."

      StarStarStarStarStar
      • Overall
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Former Employee - IT Senior Project Manager in Richmond, VA
      Recommends
      Neutral Outlook

      I worked at Federal Reserve Bank of Richmond full-time for more than 20 years

      Pros

      Pay, Benefits, Pension, Stability, Work/Life mix.

      Cons

      Management has taken up micro-managing experienced IT project managers. Spend more time doing reports and trying to make mgmt look good than managing projects.

      Advice to Management

      Let professionals do their job. Don't need to hold hands.

    • Helpful (1)

      "It's what you make of it"

      StarStarStarStarStar
      • Overall
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Current Employee - Individual Contributor 
      Doesn't Recommend
      Neutral Outlook
      No opinion of CEO

      I have been working at Federal Reserve Bank of Richmond full-time for more than 6 years

      Pros

      There are lots of very talented people, you can telecommute, and the benefits are pretty good. Most managers are talented and seem to take pride in what they do, and they provide a good learning environment.

      Cons

      Poorly shared vision. Remarkably, executive management seems unable or unwilling to understand the day to day operation of keeping a large financial institution safe and stable. VPs and AVPs at times seem clueless and motivated by irrelevant non-sense and kingdom-building .

      Advice to Management

      Stop reorganizing, it is only making things more chaotic in an organization that is very immature from a process perspective. If you are downsizing staff, just do it . . . rip the band-aid off. You are destroying morale, and you've done a disservice to yourselves and staff thinking that you've kept the layoffs quiet.

    • Helpful (4)

      "Worst Place I’ve Ever Worked!"

      StarStarStarStarStar
      • Overall
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Former Employee - Vice President in Richmond, VA
      Doesn't Recommend

      I worked at Federal Reserve Bank of Richmond full-time for more than 4 years

      Pros

      Benefits; onsite gym; parking and cafeteria

      Cons

      Racist! Slow to adapt to new leadership theories and technology

      Advice to Management

      Hopefully new leadership will change the toxic culture.

    • "Great Job"

      StarStarStarStarStar
        Current Employee - Anonymous Employee 
        Recommends
        Positive Outlook

        I have been working at Federal Reserve Bank of Richmond full-time

        Pros

        *Salary *Benefits *Autonomy *Flexible work hours *You get to work with smart people

        Cons

        *Workplace Politics *Hierarchical *Food options could be better

      • "Stable place to work"

        StarStarStarStarStar
          Current Employee - Anonymous Employee 
          Recommends
          Positive Outlook

          I have been working at Federal Reserve Bank of Richmond full-time for more than 9 years

          Pros

          pay, benefits, variety of opportunities to be exposed to across areas of expertise and a system-wide community of practice. The organization is stable.

          Cons

          consensus-driven decision making slows things down.

        • "Good benefits, no upward mobility"

          StarStarStarStarStar
          • Overall
          • Culture & Values
          • Career Opportunities
          • Compensation and Benefits
          • Senior Management
          Former Employee - Senior Financial Analyst in Richmond, VA
          Recommends
          Neutral Outlook
          Disapproves of CEO

          I worked at Federal Reserve Bank of Richmond full-time for more than 6 years

          Pros

          Good benefits, staff is competent

          Cons

          No leadership opportunities, little is spent for development and training.

          Advice to Management

          Management is out of touch with staff members. Better communication is needed.

        • Helpful (3)

          "FRIT, don't get too excited..."

          StarStarStarStarStar
          • Overall
          • Career Opportunities
          • Compensation and Benefits
          Current Employee - Anonymous Employee 

          I have been working at Federal Reserve Bank of Richmond full-time

          Pros

          - Nice people - FRIT has a fantastic benefits plan

          Cons

          things to expect and things to watch out for: 1. recruiting - speculative that position you applied for may not actually exist yet, or ever. In my personal experience positions are being advertised and interviews conducted before they have budget approval. and yes, sometimes the position is cancelled between the interview and selection phases. 2. the interview - reasonable. if your know your subject matter you...

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        Found 88 reviews